Audit 349384

Title: Note A - Basis Of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Ohio Region Senior Citizens Housing Corporation III, Restoration Plaza III has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Ohio Region Senior Citizens Housing Corporation III, Restoration Plaza III under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Ohio Region Senior Citizens Housing Corporation III, Restoration Plaza III, it is not intended to and does not present the financial position, changes in net assets or cash flows of Ohio Region Senior Citizens Housing Corporation III, Restoration Plaza III.

Title: Note D - Federally Funded and Insured Mortgages Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Ohio Region Senior Citizens Housing Corporation III, Restoration Plaza III has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Ohio Region Senior Citizens Housing Corporation III, Restoration Plaza III has received a US Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The mortgage balance at the beginning of the year is included in the federal expenditures presented in the Schedule. There were no additional loans received during the year. The balance of the loan outstanding as of June 30, 2024 is $2,920,900.